Used primarily as an intermediate in Suzuki-Miyaura cross-coupling reactions, this compound enables the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Its boronate ester group reacts efficiently with aryl halides under palladium catalysis, making it valuable in pharmaceutical and agrochemical research for constructing biaryl frameworks. The presence of a nitrile group allows for further functionalization, such as conversion to carboxylic acids or tetrazoles, expanding its utility in drug discovery and materials science.